Clarksville- Main File

DUO PEER REGIONS The duo

DUO PEER REGIONS The duo peer region analysis brought forth two duo peer regions. Those peer regions are Tuscaloosa and Birmingham, Alabama, and Topeka and Kansas City, Kansas. Each cities economy has been broken out in Table 19. Here we can view industry and demographic similarities based on economic traits and trends. One trend that stands out is the low cost of living across all duo peer regions. All but two are below the national average (100) and the two above it (Birmingham and Kansas City) are within a single decimal point of being the national average. Because of this, it can be assumed that each of these cities are relatively affordable places to live, which adds to the spending power for people living in any of these cities. A lower cost of living can make an area more attractive to business and talent alike. TABLE 19: Duo Peer Regions, MSAs, All Industries MSA DUOS POPULATION (2017) TOTAL INDUSTRY JOBS (2017) CURRENT AVERAGE EARNINGS COL INDEX BACHELOR’S DEGREE OR HIGHER % GRP Clarksville 285,375 126,375 $49,431 94.8 13.4% $12,719,800,350 Nashville 1,895,156 1,033,229 $59,589 99.6 21.4% $113,579,180,412 MSA Combination from Tennessee 2,180,532 1,159,604 $58,482 99.1 20.4% $126,298,980,762 Tuscaloosa 243,350 112,163 $49,620 95.8 15.7% $11,849,195,973 Birmingham 1,151,214 545,238 $57,271 100.4 19.1% $58,679,143,952 MSA Combination from Alabama 1,394,565 657,402 $55,966 99.6 18.5% $70,528,339,926 Topeka 232,990 121,824 $50,451 98.7 18.3% $10,537,398,969 Kansas City 2,119,174 1,142,475 $59,788 100.9 23.1% $120,976,430,762 MSA Combination from Kansas 2,352,164 1,264,299 $58,888 100.7 22.6% $131,513,829,731 Source: Emsi A benchmark variable used throughout this study was the percentage of GRP that is made up of manufacturing industries and the amount of manufacturing jobs each of these regions have. Using the same citiess as above, data for manufacturing for each city is shown in Table 20. The percentage of manufacturing that contributes to total GRP in Clarksville is 11.1%. The two cities comparable in size, Tuscaloosa and Topeka, have manufacturing industries that make up 38.0% and 9.3% of their GRP. This suggests that Clarksville has more in common from a manufacturing standpoint with Topeka, rather than Tuscaloosa. Likewise, Nashville is more comparable with Kansas City, 11.1% and 12.8%, than with Birmingham, 7.9%. That being said, there is much to be gained in studying the Tuscaloosa manufacturing sector. Job growth in the Tuscaloosa manufacturing industry was 3.1% from 2016 to 2017, verses manufacturing job growth in Clarksville and Topeka, of 0.2% and 0.1% respectively. 70 COMPREHENSIVE LABOR ANALYSIS: CLARKSVILLE-MONTGOMERY COUNTY